JPMorgan Chase leads 65 banks making decisions incompatible with restraining rising temperatures, researchers say
The world’s largest banks committed $906bn in financing to the fossil fuel industry last year, an “unfathomable” increase in investment locking in years more of coal, oil and gas production as the world continues to overheat, a new report has found.
The surge in new fossil fuel lending, up $64bn or nearly 8% on 2024, shows that the world’s largest 65 banks are making decisions incompatible with international agreements to restrain rising global temperatures, according to the coalition of environmental groups behind the new analysis.
JPMorgan Chase is again the world’s leading financier of fossil fuels, according to the annual Banking on Climate Chaos report, after pushing $58bn to the sector last year – up 13% from 2024.
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From the original report:
-Over a third of the world’s largest banks (26 of 65) reduced their fossil financing from the previous year, with some European banks and some Canadian banks driving most of that progress.
-The remaining 39 banks moved in the opposite direction, and some US, Japanese, and Chinese banks were responsible for the largest year-on-year increases.
-On balance, the world’s 65 largest banks committed $906 billion to companies conducting business in fossil fuels in 2025, up $64 billion or 7.6% from 2024.
-Since 2021, global banks have funneled over $4.2 trillion in financing to fossil fuels, including $2.1 trillion to fossil firms in expansion.
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Dealmakers and Dealtakers: Top Bank Financing by Country 2025
The US dominates as a financial center providing bank financing for fossil fuels. This petrostate also jumps off the chart (below) as the nation receiving the most fossil fuel debt from banks. In fact, US fossil fuel corporations received 45.4% of all fossil fuel financing in 2025. Comparing countries’ total bank fossil financing to their fossil fuel company borrowers, the US is an outlier. It is the only Big Six financial center [comprising the U.S., Canada, Japan, EU, China, UK] whose fossil firms receive more bank financing than its banks provide. Japanese banks, on the other hand, provide much more financing than the country’s fossil sector receives. In China, the volume of bank financing to fossil firms is about equal to the amount received by fossil firms. This is at least partly explained by China’s more insular financing model: about 86% of 2025 fossil financing from Chinese banks went to Chinese comp
Credit. Unions.
which banks?
JP Morgan has been around since the 1800s, they have a finger in every pie.
Hey… did you know that JP Morgan executives have served at the Fed? Along with many other prominent bankers, of course. Everyone who “serves” on the Fed is one of them.
We have the foxes in charge of the hen house, this is perfectly reasonable… thank God for the Fed stabilizes our economy and keeps inflation low!
Oh wait… that can’t be right. What are they there for, since they can’t accomplish their primary goals in over a century? Hmmm.
It’s centralized banking branded as a “Federal Reserve” because the public was heavily anti centralized banking at the time of its establishment.
It’s not even Federal, that’s the joke. It was created to stop our economy from boom-bust, but it hasn’t been able to accomplish that bare minimum in a century. These bankers “serving” terms at the Fed are not our friends, they are not a “public service” and they are robbing the American public blind.
I encourage anyone interested to check out their own website, and note who “serves”, and who they worked for before and after their term. JP Morgan. Morgan Stanley. Bank of America. The very institutions that profit off of monetary policy are in charge of monetary policy.
https://www.federalreserve.gov/aboutthefed/bios/board/default.htm
And people tell me that if we just vote right the problem will be solved…
Do we really have to wait for a mass casualty event before we start geo-engineering? We tried limiting emissions and we failed. Time for plan B.
